Q. What is the different between a Streamline and a Cash out Refinance?
A. With the Streamline Loan you can not consolidate debts you can only reduce your montly mortgage
payment on your first loan. The VA Cash Out loan allows you to pay off a 2nd mortgage and consolidate
debts.
Q. What if I have less than perfect credit?
A. On the Streamline program all we check is your payment history on Va loan, you can have one (30) day
late payment in the past year. With the Cash Out program you must have at least average credit, some
delinquencies are o.k. it is on a case by case basis.
Q. What is the VA Funding Fee?
A. With the Streamline Program the VA Charges 1/2% of the loan amount added to your loan (example
$200,00 loan = $1,000 funding fee). On a Cash Out loan the VA charges a 3% funding fee (example
$200,000 loan = $6,000 funding fee). The Va will waive this fee completely if you are receiving VA
disability benefits.
Q. What if I have refinanced once before?
A. You can refinance as many times as you like.
Q. How long does the process take?
A. Once we receive your signed application the process generally takes 30 days.
Q. Is an appraisal required?
A. On the Streamline loan NO. On the Cash Out loan YES- you can borrow up to 90% of the appraised
value as determined by the VA assigned appraiser.
Q. How can I receive an applications?
A. You can apply online by CLICKING HERE, or call 800-299-5390 and we can email, fax, or overnight you
the application.
Q. Does the VA set the interest rates?
A. No, the rates can change weekly, you can call 800-299-5390 and get today's current rates.
Q. What if I do not have my original Cerificate of Eligibility?
A. No problem, we can order that for you.
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STREAMLINE LOAN OPTION
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CASH OUT OPTION
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ONLINE APPLICATION
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